Geothermal fed tax credit is 30% and our state SC is 25% that is 55% off the cost so at least this year it can compete with a heat pump install.
About 5 years ago I did a DIY solar install 12.5 KW covers our home and driving our Chevy Volt 19K electric miles a year.
In the last 5 years we have driven 90K electric miles on solar power.
@Hickorypond that hay baler is very cool.
I am going to put in 2400 pipe for a 3 ton system that works out to 800' a ton.
I remain convinced (and yet to hear an argument otherwise) that the HVAC contractors are the ONLY ones who get any benefit at all from the 30% fed credit.
In my case, I was in a house with baseboard only heat, no forced air. So I needed all new just as a new built house would need.
Comparing a 4-ton conventional air to air unit to a 4-ton geo unit. With the air to air being a turnkey install....and the geo unit with me doing all the loop and exterior work and giving the contractors the lines through the wall to connect to.
I was utterly dumbfounded when the quotes for conventional were all in the $12k range and all the geo quotes in the $18k range.
Lets break it down to basics....
Ductwork is a big expense...but there is NO difference in material cost or labor cost. The ductwork dont care what type of furnace its hooked to.
Im buying ground loops and doing excavation so that is irrelevant.
Cost of the furnace package itself....surprisingly similar. $5k-$6k for a 2-stage geo unit...add another $800 or so for the pump center. Same 4-ton 2-stage air to air....pretty much same costs. But more labor to install actually, because you have an indoor and outdoor unit to set, have to supply power to both....and have to have a license to do the refrigeration work (not required on geo).
So Im scratching my head as to how in the world the Geo cost $6000 more :EEK:
I questioned the HVAC guys that gave quotes....ALL THREE had the EXACT SAME response.
"well it isnt really $6k more because you get a 30% credit...so its only a few hundred more."
Makes sense right. Who would spend $12k on a conventional system when $12.6k gets you geo right:thumbsup:
Yea....you aint fooling me. Did my own install, hired ductwork done only, was under $10k out of pocket. THEN I got to collect my 30%. And that even included a $1000 buffer tank for the desuperheater.
So to summarize.....I think the ONLY thing pushing the geo so astronomically expensive is because of the shyster contractors that do so, just because they can. Since I did the excavation and loops myself.....geo SHOULD have been cheaper AFTER the 30% by a good ways. But that makes no sense right....
When the tax credits and rebates go away, I look for geo cost to consumer to stay about the same. But it will put a BIG damper on the profit margins for the contractors.